TD SYNNEX (NYSE:SNX) CFO David Gregory Jordan Sells 3,225 Shares

TD SYNNEX Corporation (NYSE:SNX) CFO David Gregory Jordan sold 3,225 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $189.46, for a total value of $611,008.50. Following the completion of the sale, the chief financial officer owned 14,035 shares of the company’s stock, valued at approximately $2,659,071.10. This trade represents a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

TD SYNNEX Stock Up 3.2%

Shares of SNX stock traded up $5.90 during trading hours on Monday, reaching $192.82. 946,504 shares of the company’s stock were exchanged, compared to its average volume of 799,689. TD SYNNEX Corporation has a 1 year low of $92.23 and a 1 year high of $193.26. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. The stock has a market cap of $15.55 billion, a PE ratio of 16.03, a PEG ratio of 1.08 and a beta of 1.23. The stock’s fifty day moving average price is $161.27 and its two-hundred day moving average price is $156.06.

TD SYNNEX (NYSE:SNX) last released its earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. The company had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. TD SYNNEX’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the business earned $2.80 EPS. Research analysts predict that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, April 15th. TD SYNNEX’s payout ratio is presently 15.96%.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ossiam lifted its holdings in shares of TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after buying an additional 75 shares during the period. Dorato Capital Management acquired a new stake in TD SYNNEX during the fourth quarter worth about $27,000. Measured Wealth Private Client Group LLC purchased a new position in TD SYNNEX during the third quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd acquired a new position in TD SYNNEX in the fourth quarter valued at approximately $28,000. Finally, Lloyd Advisory Services LLC. acquired a new position in TD SYNNEX in the fourth quarter valued at approximately $32,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Zacks Research lowered TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. increased their price objective on TD SYNNEX from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. UBS Group raised their price objective on TD SYNNEX from $187.00 to $193.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Wall Street Zen upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, The Goldman Sachs Group increased their price target on shares of TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $183.00.

About TD SYNNEX

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.